Meeder Advisory Services Inc. Has $1.57 Million Stock Position in Cummins Inc. (NYSE:CMI)

Meeder Advisory Services Inc. lifted its position in shares of Cummins Inc. (NYSE:CMI) by 2.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,504 shares of the company’s stock after purchasing an additional 101 shares during the period. Meeder Advisory Services Inc.’s holdings in Cummins were worth $1,570,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CMI. Global Trust Asset Management LLC increased its position in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after acquiring an additional 28 shares during the period. BankPlus Trust Department bought a new stake in shares of Cummins in the fourth quarter worth $26,000. Compass Financial Services Inc acquired a new stake in Cummins in the fourth quarter valued at $27,000. Meeder Asset Management Inc. raised its position in Cummins by 208.0% during the 4th quarter. Meeder Asset Management Inc. now owns 77 shares of the company’s stock worth $27,000 after purchasing an additional 52 shares during the last quarter. Finally, TCTC Holdings LLC acquired a new position in Cummins during the 4th quarter worth about $28,000. Institutional investors own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CMI shares. Evercore ISI lifted their price objective on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. decreased their price objective on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. Jefferies Financial Group boosted their target price on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. Finally, Truist Financial boosted their price objective on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Cummins presently has an average rating of “Hold” and a consensus target price of $383.67.

Cummins Price Performance

Shares of NYSE:CMI opened at $320.04 on Thursday. The stock’s 50 day moving average is $349.15 and its 200-day moving average is $348.80. Cummins Inc. has a twelve month low of $261.51 and a twelve month high of $387.90. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $44.00 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 2.19 and a beta of 1.01.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the firm earned $4.14 earnings per share. Sell-side analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were issued a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s dividend payout ratio is currently 25.84%.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.